- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

FCA publishes Decision Notice against Markos Markou for lack of oversight

Mr Markou’s conduct placed FSE at risk of being used as a vehicle for financial crime and did not appropriately protect the interests of consumers.

FCA consults on proposals to boost disclosure of diversity on listed company boards and executive committees

The FCA also encourages companies to provide further data on the result of their diversity policies considering these wider aspects where possible.

HSBC faces questions over disclosure of alleged money laundering to monitors

Bank was under supervision by US Department of Justice-appointed team because of previous violations

PS21/9: Implementation of Investment Firms Prudential Regime

Introducing the IFPR means that there will be a single prudential regime for all FCA investment firms, simplifying the current approach for globally active systemically important banks.

The UK competition and merger control frameworks are set to change

The government is now consulting on its proposals to take forward some of the recommendations raised previously.

Banks put through commercial property ringer in stress tests

Cantillon: Curbs on shareholder payouts to peter out as EBA scrutiny report looms

Irish banks praise EU’s anti-money laundering policies

This new AML body would have the authority to prevent any suspicious and non-compliant crypto-based companies from making any transactions anywhere in the EU.

Dentons Global Advisors Acquires Interel

Extends the Firm’s Geographic Footprint and Public Affairs Capabilities

Updates to European Facilities Agent Requirements

As a result of the pending regulatory updates, this function can now be performed by a single entity, without the need to appoint multiple agents in each relevant member state.

Laundering of funds misappropriated from the Russian Treasury: closure of proceedings and partial forfeiture of assets

The forfeiture of a sum equivalent to more than CHF 4 million has, however, been ordered.

Latham & Watkins Advises Fortress Investment Group

Cross-border team represents global investment manager in financing for French professional football club.

Cross-border distribution of investment funds – the Luxembourg law of 21 July 2021

THE LAW TRANSPOSES INTO LUXEMBOURG LAW THE TERMS OF THE CBDF DIRECTIVE AND WILL ENTER INTO FORCE ON 2 AUGUST 2021, IN COMPLIANCE WITH THE TIMING FOR IMPLEMENTATION PROVIDED FOR BY THE CBDF DIRECTIVE

FCA publishes final rules to strengthen investor protections in SPACs

The proposed changes were designed to provide an alternative approach for SPACs that must otherwise provide detailed information about a proposed target to the market to avoid being suspended.

Financial Regulation: Daily Update

The European Union Agency for the Cooperation of Energy Regulators (ACER) has published the 6th edition of its guidance on the application of the Regulation on wholesale energy market integrity

Danske’s Customer Flight Exposes the Long-Term Cost of a Scandal

Danske’s chief executive says it’s still suffering from “reputational issues.

UK’s cash infrastructure and consumer research

When considering the 5km distance, 98.2% of the UK rural population are within a free source of cash.

KPMG Regulatory Horizons

The outlook for financial services regulation.

Cross-border distribution of collective investment undertakings: implementation in Italy of EU rules

Most of the collective investment undertakings are sold in the home country of establishment and cross-border distribution is still too limited.

SFO Secures Two Further DPAs

The DPAs relate to conduct which, according to the SFO, saw the Companies’ “rolling use” of bribes to obtain UK contracts valued in the millions of pounds.

Medicinal cannabis growth to be permitted in Guernsey

The move follows a memorandum of understanding with the UK Home Office, Guernsey States announced.

Legal, Regulation & Compliance